With the rise of internet and technology spaces, there more opportunities than ever to earn extra income online, most especially in Nigeria. We will provide you with the legit ways to earn and have a plan B source of income for yourself.
Earning a living with only salary work isn’t enough to survive most especially in Nigeria, the cost of living keeps on increasing on a daily basis.
Getting a plan B to earn more money to your Plan A source of income should be the main focus to leave in an average cost of living in a country like Nigeria.
Whether you’re looking to supplement your full-time job or want to work from home, the online world has something beneficial for everyone. Here are some of the best ways to earn extra income online.
How To Earn Extra Income in Nigeria
Nigeria is the country with the greatest economy in Africa and with an ever-growing GDP; yet the country is plagued by constant inflation rates in the double digits, which has caused the value of the country’s cost of living to plummet.
Furthermore, the dearth of employment opportunities is a significant factor in Nigeria, which is getting a high level of unemployment, which reached an all-time high of 23.1% in the latter half of 2018.
The good news is that even while it’s possible that there aren’t any full-time jobs currently available for you, you can still make your own opportunities making money online with stress free.
Because we don’t want your skills to go to waste, we’ve come up with some simple and fast different methods that you can make money even if you don’t have a job.
You are already on your way to making money online if you have access to a computer and a connection that is active to the Internet. The remaining step is to locate suitable channels that are willing to reward you for your time:
Advantages of Earning Extra Income Online
There are several advantages and disadvantages to earning extra income online. Here are some of the most common ones:
- Flexibility: One of the biggest advantages of earning extra income online is the flexibility it provides. You can often choose your own hours and work from anywhere with an internet connection.
- Low start-up costs: Many online income opportunities require little or no investment, making it an accessible option for people who don’t have a lot of capital to start a business.
- Wide range of options: There are many different ways to earn extra income online, including freelancing, selling products, and taking surveys, among others.
- Scalability: With many online income opportunities, you can scale your earnings as you grow your business or take on more clients.
- Competition: With the rise of the internet, there is a lot of competition for online income opportunities. This can make it difficult to stand out and earn a steady income.
- Uncertainty: Many online income opportunities are not steady or predictable, which can be a disadvantage for those who need a stable source of income.
- Scams: Unfortunately, there are many scams online that claim to offer easy money, but in reality, they only take your money and provide nothing in return. It’s important to do your research and only work with reputable companies.
- Requires discipline and hard work: Earning extra income online often requires discipline and hard work, just like any other job. You need to be dedicated to making it work and be willing to put in the effort.
In conclusion, earning extra income online can be a great way to supplement your income and achieve financial freedom, but it’s important to be aware of the potential challenges and to approach it with caution and due diligence.
Ways to Earn Extra Income Online
- Online tutoring
- Selling products online
- Affiliate marketing
- Online surveys
- Content Creation
Freelancing is a popular option for those who want to work from home and have a specific set of skills. Platforms such as Upwork, Fiverr, and Freelancer provide a marketplace for people to offer their services, ranging from writing and graphic design to virtual assistant work and web development. To get started as a freelancer, simply create a profile and showcase your skills and experience.
Criteria to Start a Freelancing Job
There are several criteria that are typically considered when evaluating a freelancing job. These can include:
- Skills required: Freelancers should have the skills and expertise required to perform the job effectively. This may include specific technical skills, experience with certain tools or platforms, or knowledge of a particular industry or subject matter.
- Project scope: It’s important to understand the scope of the project and what is expected of the freelancer. This may include specific deliverables, deadlines, and budget constraints.
- Communication: Effective communication is crucial in any freelancing relationship. This includes the ability to clearly communicate project expectations and progress, as well as the ability to address any issues or concerns in a timely manner.
- Payment terms: Freelancers should be aware of the payment terms and method for the job, including when payment is due and the amount that will be paid.
- Work conditions: Freelancers should have a clear understanding of the work conditions, including the number of hours required, the preferred method of communication, and any other relevant details.
- Reputation: Freelancers should research the reputation of the client and ensure that they have a positive track record of working with freelancers.
- Contract: It’s important to have a clear and detailed contract that outlines the terms and conditions of the freelancing relationship. This can help to avoid misunderstandings and ensure that both parties are on the same page.
If you’re knowledgeable in a particular subject or have a teaching background, you can offer your services as an online tutor. Platforms such as Tutor.com, VIPKid, and Skooli connect tutors with students from all over the world, allowing you to earn extra income while working from home.
Criteria to Start an Online Tutoring Job
There are a number of factors that may be considered when evaluating candidates for an online tutoring job. Some of the most common criteria include:
- Education and Qualifications: Tutors typically need to have a strong academic background and may be required to hold a bachelor’s degree or higher in the subject they will be teaching.
- Teaching Experience: Prior teaching or tutoring experience can be an asset, as it demonstrates a candidate’s ability to effectively communicate and convey information.
- Technical Skills: Online tutors should be proficient with technology, including video conferencing software and digital tools for sharing and annotating materials.
- Communication Skills: Strong verbal and written communication skills are essential for online tutors, as they will be communicating with students and parents primarily through video calls, chat, and email.
- Adaptability: Online tutoring requires the ability to adapt to different learning styles and adjust lessons as needed to meet the needs of individual students.
- Patience and Empathy: Tutors should be patient and understanding and be able to maintain a positive and supportive attitude in the face of challenges.
- Subject Matter Expertise: Tutors should have a deep understanding of the subject they are teaching and be able to explain complex concepts in simple terms.
- Availability: Online tutors should be available during the hours that students need help, which may include evenings and weekends.
It’s also worth noting that some tutoring companies may have additional requirements, such as undergoing a background check or completing a certification process.
Selling Products Online
Online marketplaces such as Amazon, IAELimited, Jiji, Shopify and eBay provide a platform for you to sell your products. Whether you make handmade goods, have a collection of vintage items, or want to sell excess items you no longer need, online marketplaces make it easy for you to reach a large audience.
Criteria to Start Selling Products Online
If you’re looking to start selling products online, there are several key factors to consider:
- Product Selection: Choose products that you are knowledgeable about, passionate about, and that have a high demand in the market. Consider factors like the target audience, competition, and profit margins when making your product selection.
- Legal Requirements: Make sure that you are aware of any legal requirements for selling products online, including obtaining any necessary licenses, registering for taxes, and following regulations regarding product labeling and advertising.
- Online Platform: Choose an online platform to sell your products on. This could be an e-commerce website, an online marketplace like Amazon or Etsy, or a social media platform like Facebook or Instagram.
- Payment Processing: Establish a method for processing payments from customers, such as a payment gateway like PayPal or Stripe. Make sure that you have a secure and reliable system in place for accepting payments.
- Shipping and Logistics: Consider how you will handle shipping and logistics, including how you will package and ship products, how you will manage orders and returns, and how you will track and manage inventory.
- Marketing and Promotion: Develop a marketing and promotion strategy to reach potential customers and generate sales. This could include SEO optimization, social media advertising, email marketing, or influencer marketing.
- Customer Service: Provide excellent customer service to build trust and loyalty with customers. This could include responding to customer inquiries, providing product information and support, and handling returns and refunds.
- Data Management: Keep track of sales and customer data to make informed business decisions. This could include using tools like spreadsheets, customer relationship management (CRM) software, or analytics software.
By considering these factors and planning carefully, you can set yourself up for success when starting a business selling products online.
Affiliate marketing involves promoting a product or service and earning a commission for each sale made through your unique affiliate link.
Many companies, such as Amazon and Commission Junction, offer affiliate programs that allow you to earn money by promoting their products.
Criteria to Start Affiliate Marketing
To start affiliate marketing, you will need to meet the following criteria:
- A website or platform: To promote affiliate products, you need a website or platform where you can publish content and promote affiliate products. A blog, YouTube channel, or social media account are all potential options.
- Traffic: You need to have an audience to promote affiliate products to. Without traffic, you won’t have anyone to buy the products you promote.
- Niche: It’s important to choose a niche that you are passionate about and that has a large audience. This way, you can create high-quality content that your audience will enjoy and find useful.
- Affiliate programs: Find affiliate programs that offer products or services in your niche. Some popular affiliate networks include Amazon Associates, Commission Junction, ShareASale, and ClickBank.
- Knowledge of the niche: To succeed in affiliate marketing, you need to have a deep understanding of your niche and the products you are promoting. This will help you create better content and make more informed decisions about which products to promote.
- Marketing skills: You need to be able to effectively market the products you are promoting. This includes knowing how to write compelling product descriptions, create eye-catching graphics, and drive traffic to your website.
- Patience: Affiliate marketing can take time to see results, so it’s important to be patient and persistent. Keep creating high-quality content and promoting products, and eventually, you will see a return on your investment of time and effort.
Online survey websites, such as Survey Junkie and Swagbucks, pay you for your opinions. Simply sign up for a free account, complete surveys, and earn money in your spare time.
Criteria to Start Online Surveys
To start online surveys, you will need to consider the following criteria:
- Purpose and Objectives: Clearly define the purpose and objectives of the survey. This will help you determine the type of survey you want to conduct, the target audience, and the questions you want to ask.
- Target audience: Identify the target audience for the survey, such as customers, employees, or the general public. This will help you determine the best platform to use for your survey and the type of questions to ask.
- Survey platform: Choose a survey platform that best fits your needs and budget. Some popular options include Google Forms, SurveyMonkey, and Qualtrics.
- Question design: Design clear and concise questions that are relevant to the purpose of your survey. Avoid leading questions and make sure the questions are easy to understand.
- Sample size: Determine the sample size you need to get statistically significant results. The larger the sample size, the more accurate the results will be.
- Data collection and analysis: Decide how you will collect and analyze the data from the survey. You can choose to collect the data manually or use software to automate the process.
- Ethics: Make sure that you adhere to ethical standards when conducting your survey, such as obtaining informed consent from participants, ensuring anonymity, and protecting the confidentiality of the data.
By considering these criteria, you can ensure that your online survey is effective and reliable in achieving your desired outcomes.
Dropshipping is a business model where you sell products without having to store or handle any inventory. You simply partner with a supplier who handles the shipping and fulfillment of the products, and you earn a profit on each sale.
Criteria to Start Dropshipping Business
Starting a dropshipping business requires a few key considerations. Here are some of the most important criteria to consider:
- Niche selection: Choose a niche or product category that you’re interested in or have knowledge about. It’s also important to consider if the niche has a large enough market and if there’s enough demand for the products you plan to sell.
- Market research: Research the market to determine if there’s enough demand for your products, as well as what kind of competition you’ll be facing. You can use tools like Google Trends and Amazon to research your niche and see what products are popular.
- Supplier selection: Find a reputable supplier that offers the products you want to sell. Make sure the supplier has a good reputation and offers fast and reliable shipping.
- Shopify store setup: Set up an e-commerce store using a platform like Shopify or WooCommerce. This platform allows you to easily manage your inventory, process orders, and handle payments.
- Marketing: Develop a marketing plan to promote your products and attract customers. This could include things like search engine optimization (SEO), social media marketing, and paid advertising.
- Customer support: Provide excellent customer support to ensure a positive customer experience and encourage repeat business.
- Finances: Have enough start-up capital to cover the costs of setting up your store, marketing, and other expenses.
It’s important to remember that starting a dropshipping business requires hard work, patience, and perseverance. However, with the right planning and execution, it can be a rewarding and profitable venture.
There are numerous ways to earn extra income online, and the options are endless. Whether you want to work from home, have a specific set of skills, or are looking for a flexible schedule, the online world provides opportunities for everyone.
By taking advantage of these opportunities, you can boost your finances and achieve financial stability. In case you missed it, we recently made a post about how to get and use AfriGo Card Nigeria. It’s a new card introduced by the central bank of Nigeria for international transactions.
My ambition as a child was to become an accountant, but life took me to where I am today. Blogging became one of my Hobby since I was 16, and I took it as a profession when I turned 22.